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Stora Enso Oyj ser. A (STE-A) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Stora Enso Oyj ser. A SEK 118, price SEK 113, upside +4.7%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Consumer Cyclical · SE · Home Finland · ISIN FI0009007603

SE Stora Enso Oyj ser. A logo Broad data Oct 3, 2026

Stora Enso Oyj ser. A

STE-A · ST

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value kr 117.78 · Fairly valued (+4.7%)
!Quality 55/100
!Weak Growth (revenue 5y +1.7 %/yr)
!Thin margins · 6.6% net margin (TTM)
!Low debt · negative free cash flow
!0.2% dividend yield · Token dividend
!Trails peers (5/14)
!Narrow moat 33/100
!Weak on valuation: 29 out of 100
!Weak on past: 24 out of 100
!Weak on dividend: 4 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 188.53 kr 84.43 Fair Value kr 117.78 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range kr 84.43 – kr 188.53 · fair‑value band kr 90.34 – kr 167.77 · the kr 112.50 price screens below the kr 117.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

Stora Enso Oyj provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries in Finland and internationally. It operates through Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, and Other segments.

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Stora Enso Oyj provides renewable solutions for the packaging, biomaterials, wooden constructions, and paper industries in Finland and internationally. It operates through Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, and Other segments. The company's Packaging Materials segment offers virgin and recycled fiber replace fossil-based materials, renewable and recyclable packaging materials for food and beverage, and transport packaging. Its Packaging Solutions segment develops and sells fiber-based packaging products and services, including converting carton and corrugated boards for packaging solutions for retail, e-commerce, and industrials. The company's Biomaterials segment provides various pulp for packaging, paper, tissue, specialties, and hygiene products; and tall oil and turpentine from biomass. Its Wood Products segment offers wood-based solutions, including digital tools for design and construction of building projects with wood; applications for windows and doors; and pellets for sustainable heating solutions. The company's Forest segment engages in sustainable forest management, as well as supplies wood. The company's Other segment produces electricity and heat. It serves packaging manufacturers, brand owners, retailers, converters, and construction companies. The company was incorporated in 1996 and is headquartered in Helsinki, Finland.

Stock analysis

Stora Enso Oyj ser. A (STE-A) currently trades at kr 112.50, while our model-based Fair Value estimate is kr 117.78, so the stock looks roughly fairly valued today (gap 4.5%).

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Valuation

Bull case: the Multiples group reads highest at a median of kr 181.93 per share, and 8 of the 15 models we run sit above the kr 112.50 price.

Bear case: the Dividend Discount group reads lowest at kr 30.80, and 7 of the 15 models stay below the price. Evidence for this calculation is high.

Scenario range: kr 90.34 (bear) to kr 167.77 (bull), the price of kr 112.50 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Stora Enso Oyj ser. A reported revenue of €9.3B in FY2025 versus €10.2B in FY2021, a compound −2.1%/yr. Reported net income was €695M in FY2025, compounding −13.9%/yr from FY2021.

Key figures

Market cap 88.8B SEK (≈ $8.8B) · P/E ratio 11.8 · P/S ratio 0.88 · EPS (TTM) kr 8.66 · Dividend yield 0.2% · Net margin 7.5% · Return on equity 6.0% · Return on assets (EBIT) 4.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 10% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −16% fair-value upside, at 5%, STE-A screens cheaper than that median.

Fair Value models

Bear kr 90.34 Fair Value kr 117.78 Bull kr 167.77
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 6.36 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income kr 132.75 kr 139.09 kr 149.88 76
Owner Earnings kr 62.63 kr 96.14 kr 156.27 75
EPV kr 89.32 kr 108.00 kr 124.12 74
All 15 models by family
DCF Models
Owner Earnings kr 62.63 kr 96.14 kr 156.27 75
Earnings-Based
Graham-Dodd kr 72.77 kr 88.95 kr 100.06 67
EPV kr 89.32 kr 108.00 kr 124.12 74
Dividend Discount
Gordon GGM kr 28.27 kr 30.80 kr 34.64 69
DDM Multi-Stage kr 28.27 kr 34.93 kr 44.02 67
Multiples
P/E Multiple kr 136.45 kr 181.93 kr 227.42 63
P/S Multiple kr 136.45 kr 181.93 kr 227.42 58
P/B Multiple kr 136.45 kr 181.93 kr 227.42 55
EV/EBIT kr 123.34 kr 174.11 kr 224.88 65
EV/EBITDA kr 135.49 kr 190.31 kr 245.13 67
EV/Revenue kr 103.04 kr 159.61 kr 216.18 53
Asset-Based
NCAV (Graham) kr 83.12 kr 111.38 kr 166.24 54
Economic Profit
Residual Income kr 132.75 kr 139.09 kr 149.88 76
ROIC Compounder kr 89.32 kr 108.00 kr 124.12 72
Growth Earnings
Growth-Adj P/E kr 97.21 kr 138.87 kr 180.53 67

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Quality Score breakdown

Overall quality 55/100

Of which business quality 52 · Market factors (momentum, volatility) 56

Profitability 33
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 29/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+3.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
Start year 2020 (pandemic). Over 10 years: −0.7% a year
Revenue growth 26 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.5%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−4.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.6%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4.6% vs 4.1%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 10%
Start year 2020 (pandemic)

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Recent news

News mood ⓘNews mood, the average tone of recent news (97 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Packaging & Containers · 259 stocks

Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −3.4% · Above median
Profitability
Return on equity (TTM) 6.0% · Below median
Return on assets 0.6% · Below median
Net margin (TTM) 6.6% · Above median
Operating margin (TTM) 5.0% · Below median
Growth and dividend
Revenue growth −0.2% · Below median
Dividend yield (TTM) 0.2% · Bottom 25%
Balance sheet
Debt / equity 0.29× · Above median

Valuation Multiplesvs Packaging & Containers median · lower = cheaper

P/E (TTM) 11.8× · Cheaper than median
P/B 0.73× · Cheaper than median
P/S (TTM) 0.84× · Pricier than median
EV/EBITDA 15.7× · Priciest 25%
PEG 45.97× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)29 · sector 23
FUTURE (revenue growth)0 · sector 37
PAST (return on equity)24 · sector 24
HEALTH (low debt)86 · sector 92
DIVIDEND (yield)4 · sector 47

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Smurfit Westrock Plc, SW $46.41 $29.85 −36%
Packaging Corporation PKG $234.52 $130.10 −45%
International Paper Company IP $32.52 $21.53 −34%
Ball Corporation BALL $56.83 $47.81 −16%
Avery Dennison Corporation AVY $170.78 $125.35 −27%
Crown Holdings CCK $108.06 $121.85 +13%
SIG Group SIGN CHF 13.37 CHF 9.59 −28%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.00 ¥31.90 +10%
Sonoco Products Company SON $50.06 $61.98 +24%
Greif, Inc GEF $82.66 $82.62 +0%

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Cite: Fair Value Calculator (2026). "Stora Enso Oyj ser. A Fair Value". https://www.fairvalue-calculator.com/stock/STE-A

Frequently asked questions

Is Stora Enso Oyj ser. A (STE-A) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 117.78 versus a price of kr 112.50, about +5% upside (fairly valued).
What is the fair value of STE-A?
Our model-based fair value for Stora Enso Oyj ser. A is kr 117.78 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 112.50.
What is the quality score of STE-A?
Stora Enso Oyj ser. A has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Stora Enso Oyj ser. A (STE-A)?
Our model-based price target is the fair value of kr 117.78 (as of Oct 3, 2026) from 15 valuation models. Cautious scenario kr 90.34, optimistic scenario kr 167.77. It is a calculation from audited fundamentals, not an analyst target.
What is the Stora Enso Oyj ser. A stock forecast for 2026?
Our models put fair value at kr 117.78, about +5% upside versus a price of kr 112.50 (fairly valued). Cautious scenario kr 90.34, optimistic scenario kr 167.77. The calculation is refreshed regularly with new filings.
What is the revenue of Stora Enso Oyj ser. A (STE-A)?
Stora Enso Oyj ser. A reported trailing-twelve-month revenue of about €9.3B (latest available figure, as of Oct 3, 2026).
Does Stora Enso Oyj ser. A pay a dividend?
Stora Enso Oyj ser. A currently shows a dividend yield of about 0.22% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Stora Enso Oyj ser. A (STE-A)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Stora Enso Oyj ser. A it is kr 117.78 per share (as of Oct 3, 2026), against a price of kr 112.50. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Stora Enso Oyj ser. A stock overvalued or undervalued in 2026?
As of Oct 3, 2026, STE-A trades below its calculated fair value: price kr 112.50, fair value kr 117.78, a gap of about +5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of STE-A?
No. The price is what the market pays today (kr 112.50); the fair value is what the company's own numbers justify (kr 117.78). For Stora Enso Oyj ser. A the two are kr 5.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Stora Enso Oyj ser. A worth?
The market values Stora Enso Oyj ser. A at about 88.8B SEK (market capitalisation, as of Oct 3, 2026). Per share that is kr 112.50; our models calculate a fair value of kr 117.78 per share.
What do the bullish and bearish scenarios say about STE-A?
Our models span a range for Stora Enso Oyj ser. A: cautious scenario kr 90.34, base kr 117.78, optimistic kr 167.77 per share (as of Oct 3, 2026, price kr 112.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of STE-A?
Stora Enso Oyj ser. A trades at a price-to-earnings ratio of 11.8 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 117.78 is built from several models across several years. Other multiples: PEG 46.0, P/B 0.7, P/S 0.8, EV/EBITDA 15.7.
What is the PEG ratio of STE-A?
The PEG ratio of Stora Enso Oyj ser. A is 45.97 (P/E divided by earnings growth, as of Oct 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Stora Enso Oyj ser. A (STE-A)?
Balance-sheet figures for Stora Enso Oyj ser. A (as of Oct 3, 2026): return on equity 6.0%, debt of 0.29 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is STE-A from its 52-week high?
Stora Enso Oyj ser. A trades at kr 112.50, about 10% below its 52-week high of kr 124.32 and 16% above the low of kr 96.70 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 117.78 is for.
Which stocks are comparable to Stora Enso Oyj ser. A?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, International Paper Company, Ball Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Stora Enso Oyj ser. A stock attractive at the current price?
The data as of Oct 3, 2026: price kr 112.50, calculated fair value kr 117.78 (+5%), Quality Score 55/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of STE-A calculated?
We run Stora Enso Oyj ser. A through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 117.78, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Stora Enso Oyj ser. A currently trades 4 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Stora Enso Oyj ser. A (STE-A)?
The closing price on Oct 2, 2026 was kr 112.50. Our model-based fair value is kr 117.78, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Stora Enso Oyj ser. A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (kr 90.34 to kr 167.77) leaves room in how you read the outcome.

Key figures of Stora Enso Oyj ser. A

How large is the market capitalisation of Stora Enso Oyj ser. A (STE-A)?
The market capitalisation of Stora Enso Oyj ser. A is 88.8B SEK (≈ $8.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Stora Enso Oyj ser. A (STE-A)?
The price-to-sales ratio of Stora Enso Oyj ser. A is 0.88 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Stora Enso Oyj ser. A (STE-A)?
Earnings per share at Stora Enso Oyj ser. A are kr 8.66 (price ÷ EPS = P/E 11.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Stora Enso Oyj ser. A (STE-A)?
The dividend yield of Stora Enso Oyj ser. A is 0.2% (payout 2.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Stora Enso Oyj ser. A (STE-A)?
The net margin of Stora Enso Oyj ser. A is 7.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Stora Enso Oyj ser. A (STE-A)?
The return on equity (ROE) of Stora Enso Oyj ser. A is 6.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Stora Enso Oyj ser. A (STE-A)?
On an EBIT basis the return on assets of Stora Enso Oyj ser. A is 4.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Stora Enso Oyj ser. A (STE-A)?
The operating margin of Stora Enso Oyj ser. A is 5.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Stora Enso Oyj ser. A (STE-A)?
Revenue at Stora Enso Oyj ser. A is growing −0.2% versus a year earlier (3y avg −7.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Stora Enso Oyj ser. A (STE-A)?
Earnings per share at Stora Enso Oyj ser. A are growing −71.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Stora Enso Oyj ser. A (STE-A) generate?
The free cash flow of Stora Enso Oyj ser. A is −€130M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Stora Enso Oyj ser. A (STE-A) carry?
The net debt of Stora Enso Oyj ser. A is €3.3B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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